S&P 500 Mar 21 to Mar 25 Outlook

By News Robot

Lawrence’s Comment

As oppose to test and fill the gap above, first move of the week broken the Y-1 support. That tells us Y-2 and Y-3 were in play and the market sold off to Y-2, bounced to Y-1 and then flushed to Y-3 to complete the move. Since then a sharp rally brought it back up to Y-1 again and closed the week above B-0 midpoint.

Just like last week, S&P looks a lot stronger than Nasdaq. Yet Nasdaq is well known as the momentum leader on intraday basis and can overwhelm the S&P only crowd.

B-0 must hold for any hope of a rally. B-1 will be tested quickly once B-0 fails to act as support zone.

If there is no news shock this week (not likely), then expect a drift between B-0 and B+1.


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